Analysts forecast that Conn’s (NASDAQ:CONN) will report $354.84 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Conn’s’ earnings. The highest sales estimate is $355.66 million and the lowest is $353.80 million. Conn’s reported sales of $355.83 million during the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, June 5th.
On average, analysts expect that Conn’s will report full year sales of $1.56 billion for the current year, with estimates ranging from $1.55 billion to $1.57 billion. For the next year, analysts expect that the business will post sales of $1.64 billion per share, with estimates ranging from $1.62 billion to $1.66 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Conn’s.
Conn’s (NASDAQ:CONN) last announced its quarterly earnings data on Thursday, April 5th. The specialty retailer reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.02. Conn’s had a return on equity of 5.72% and a net margin of 0.43%. The firm had revenue of $420.40 million during the quarter, compared to analyst estimates of $429.67 million. During the same period last year, the company posted $0.05 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year.
Several brokerages have recently issued reports on CONN. Zacks Investment Research upgraded Conn’s from a “strong sell” rating to a “hold” rating in a report on Wednesday. BidaskClub lowered Conn’s from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Finally, ValuEngine upgraded Conn’s from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Conn’s presently has an average rating of “Buy” and a consensus price target of $37.50.
In related news, insider Brian Daly acquired 5,100 shares of the business’s stock in a transaction that occurred on Monday, April 9th. The shares were acquired at an average cost of $27.87 per share, with a total value of $142,137.00. Following the purchase, the insider now owns 55,206 shares of the company’s stock, valued at $1,538,591.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO George L. Bchara acquired 7,390 shares of the business’s stock in a transaction that occurred on Tuesday, April 10th. The stock was bought at an average cost of $27.41 per share, for a total transaction of $202,559.90. Following the completion of the purchase, the chief accounting officer now directly owns 42,816 shares in the company, valued at approximately $1,173,586.56. The disclosure for this purchase can be found here. 3.34% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CONN. Arrowstreet Capital Limited Partnership bought a new position in shares of Conn’s in the 4th quarter valued at approximately $9,452,000. Castleark Management LLC bought a new position in shares of Conn’s in the 4th quarter valued at approximately $6,175,000. Hennessy Advisors Inc. bought a new position in shares of Conn’s in the 1st quarter valued at approximately $4,342,000. JPMorgan Chase & Co. raised its stake in shares of Conn’s by 40.1% in the 1st quarter. JPMorgan Chase & Co. now owns 415,767 shares of the specialty retailer’s stock valued at $14,136,000 after acquiring an additional 119,075 shares in the last quarter. Finally, Cortina Asset Management LLC bought a new position in shares of Conn’s in the 1st quarter valued at approximately $3,386,000. 67.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Conn’s opened at $26.30 on Friday, according to Marketbeat Ratings. The stock has a market cap of $827.00 million, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 0.50 and a beta of 1.72. The company has a debt-to-equity ratio of 2.04, a current ratio of 6.58 and a quick ratio of 5.29. Conn’s has a one year low of $15.10 and a one year high of $37.80.
Conn's, Inc operates as a specialty retailer of durable consumer goods and related services in the United States. The company operates through two segments, Retail and Credit. Its stores provide furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; consumer electronics comprising televisions, Blu-ray players, home theaters, and portable audio equipment; and home office products consisting of computers, printers, and accessories.
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